Old Navy to open three new stores in Canada this spring
Apparel and accessories brand Old Navy is gearing up for a significant number of store openings this year including three new stores set to open in Canada this spring.
The brand, which is a member of the Gap Inc. family, will open two stores on May 2 including a 12,500-square-foot store in Lasalle, Quebec at Carrefour Angrignon, as well as a 15,500-square-foot store in Edmonton, Alberta at Outlet Collections.
A third 10,200-square-foot location is expected to open mid-June in Toronto, Ontario at Fairview Mall.
"We're excited to continue expanding our retail presence across Canada by opening additional stores in 2018 and investing in our digital experience to highlight the best of our brand however and wherever our customers choose to shop," said Sonia Syngal, President and CEO of Old Navy, in a news statement.
“We believe we bring something special and unique to the Canadian market and look forward to welcoming customers to experience fun and fashion for the whole family at our new locations."
Old Navy also plans to remodel approximately 150 stores across its fleet and is on track to open about 60 Old Navy stores by the end of 2018.
The expansion is a part of a larger balanced growth strategy that Gap Inc. announced last September. It includes plans to add about 70 net new stores, by introducing 270 new Old Navy, Athleta, Gap Outlet and Banana Republic Factory stores, while continuing to right-size its Gap and Banana Republic specialty footprint, over the next three years.
Gap Inc’s Old Navy and Athleta brands have been a bright spot for the parent company in recent years, while Gap and Banana Republic stores have been underperforming.
The company expects Old Navy to exceed $10 billion and Athleta to exceed $1 billion in net sales in the next few years, propelled by a significant number of store openings, as well as growth in online and mobile channels.
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